Intesa Sanpaolo and Iren: agreement signed for the allocation of tax credits up to 170 million euros

PRESS RELEASE

INTESA SANPAOLO AND IREN: AGREEMENT SIGNED FOR THE SALE OF TAX CREDITS UP TO € 170 MILLION

Reggio Emilia, November 23, 2021 – Intesa Sanpaolo and Iren – through its subsidiaries Iren Smart Solutions and Iren Mercato – signed a framework agreement for the sale and purchase of Superbonus and Ecobonus tax credits within the framework of the revival decree.

The agreement for a total amount of 170 million euros represents an important step in supporting the Iren Group in energy requalification projects for buildings, allowing the immediate release of the tax credit resulting from tax incentives.

The requalification works will allow, for the interventions planned under the Superbonus 110%, an average energy saving of more than 50% of the energy consumed, with positive effects on the cost of the bills of thousands of families.

An advantage not only for the individual owners but for the whole community; the savings in terms of emissions, in fact, can be estimated at more than 4,000 tonnes of C02.

The companies of the Iren Group have already signed more than 500 contracts and started more than 300 projects relating to redevelopment works, for which Intesa Sanpaolo will purchase the corresponding tax credit.

The first tranche of the sale will be finalized by December 31, 2021, for an amount of approximately 40 million euros.

Mauro Micillo, Head of the IMI Corporate & Investment Banking division of Intesa Sanpaolo, commented : “ The agreement with a leading operator like Iren makes a concrete contribution to the efficiency of the country’s building stock by improving the energy consumption of a large number of households. Intesa Sanpaolo thus confirms its commitment to support the transition to a low-carbon economy by helping and supporting companies that facilitate the improvement of energy efficiency.“.

Gianni Vittorio Armani, CEO and Managing Director of the Iren Group, highlighted : “ By giving a central place to the themes of environmental transition and investments for communities, this operation is fully in line with the strategic orientations of our business plan 2030. Our partnership with a major financial player such as Intesa Sanpaolo allows us to through the many energy efficiency projects underway in our communities, to further strengthen our role as main partner for the community, by supporting it with our smart solutions in the pursuit of sustainable development. “

About Intesa Sanpaolo

Intesa Sanpaolo is a wealth management and protection company, the leading Italian bank and one of the strongest and most profitable banking groups in Europe. It offers commercial banking, corporate investment, private banking, asset management and insurance services. The Intesa Sanpaolo group has approximately 13.5 million customers in Italy and 7.1 million customers abroad through commercial banking subsidiaries in 12 countries of Central and Eastern Europe, the Middle East and North Africa, as well as an international network to support corporate clients in 25 countries. Intesa Sanpaolo is recognized as one of the most sustainable banks in the world and is committed to becoming a benchmark model in terms of sustainability and social and cultural responsibility. Intesa Sanpaolo supports major economic inclusion and poverty reduction projects, including a € 1.5 billion impact fund for loans to social groups who have difficulty accessing credit. The Group has a fund of 6 billion euros dedicated to the circular economy. The Group is also strongly involved in cultural initiatives in Italy and beyond, with the aim of preserving, promoting and sharing the historical and artistic heritage of Italy, also through permanent and temporary exhibitions hosted at the Gallerie d ‘ Italia, the Intesa Sanpaolo museums located in Milan, Naples, Vicenza and soon Turin.

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About Iren

Iren, one of the most important and dynamic multiservice companies in the Italian panorama, is active in the sectors of electricity, gas, district heating, integrated management of water services, environmental services and technological services. The Group delivers its services in a multiregional territory with more than 8,600 employees, a portfolio of more than 1.9 million customers in the energy sector, approximately 2.8 million inhabitants served in the integrated cycle of the water and more

3.1 million inhabitants in the environmental cycle. It is the leading national operator in the district heating sector in terms of thermal energy sold, the third in the water sector in terms of cubic meters managed and in the environmental services sector in terms of quantity of waste treated, the fifth from the gas sector in terms of sales to end customers and fifth from the electricity sector in terms of electricity sold. The Group is an energy producer that respects the environment for around 73% of its production. Iren is an industrial holding company with headquarters in Reggio Emilia and operating centers in Genoa, Parma, Piacenza, Reggio Emilia, Turin, La Spezia and Vercelli.

Website: www.gruppoiren.it | News: www.ireninforma.it | Twitter: @groupiren | Facebook: @ iren.group | Instagram:

@group_iren | LinkedIn: https://www.linkedin.com/company/iren-gruppo/

Disclaimer

Intesa Sanpaolo SpA published this content on 23 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 23, 2021 10:58:04 AM UTC.